For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Cheniere Energy Partners, L.P. (CQP) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Cheniere Energy Partners, L.P. is one of 252 companies in the Oils-Energy group. The Oils-Energy group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Cheniere Energy Partners, L.P. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CQP's full-year earnings has moved 1.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CQP has moved about 22.5% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of 21.4% on a year-to-date basis. As we can see, Cheniere Energy Partners, L.P. is performing better than its sector in the calendar year.
EnQuest (ENQUF) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 137.2%.
In EnQuest's case, the consensus EPS estimate for the current year increased 175% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cheniere Energy Partners, L.P. belongs to the Alternative Energy - Other industry, a group that includes 56 individual stocks and currently sits at #99 in the Zacks Industry Rank. This group has gained an average of 11.3% so far this year, so CQP is performing better in this area.
EnQuest, however, belongs to the Oil and Gas - Exploration and Production - International industry. Currently, this 9-stock industry is ranked #66. The industry has moved +40.1% so far this year.
Investors interested in the Oils-Energy sector may want to keep a close eye on Cheniere Energy Partners, L.P. and EnQuest as they attempt to continue their solid performance.
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Cheniere Energy Partners, L.P. (CQP): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).